Obama calls for quick action on economy

CHICAGO (AP) -- President-elect Barack Obama says there isn't a "minute to waste" in solving the nation's economic crisis, which he says is likely to get worse before it gets better.

As he named members of his economic team, Obama said there are extraordinary stresses on the financial system that require extraordinary responses.

He called on Congress to start work on an aggressive plan when it is sworn in January, so that his administration can, as he put it, "hit the ground running."

Obama wants action that will stabilize the financial system and get credit flowing, as well as create jobs in areas including rebuilding infrastructure and creating clean energy.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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